Sector Update: Telecom; Rogers Communications Posts Weaker-than-Expected Q4


Shutterstock photo

The S&P/TSX Telecom Services Index was down 1.2% in the afternoon session, posting the biggest loss among major sectors. Telecom stocks were mixed.

BCE Inc. (BCE.TO): +0.2%

Bell Aliant (BA.TO): -1.2%

Rogers Communications (RCI-B.TO): -5.3%

Quebecor, Inc. (QBR-B.TO): -0.2%

In company news, Rogers Communications Inc. says Q4 2013 adjusted diluted EPS was C$0.69, down 20% from last year's C$0.86, trailing Capital IQ consensus by C$0.04. Revenue decreased 1% from last year to C$3.2 billion, missing the C$3.3 billion analyst estimate.

For 2014, the company sees adjusted operating profit in the range of C$5 billion to C$5.15 billion.

Also, the board of directors approved an increase of 5% in the annualized dividend rate from $1.74 to $1.83 per share, effective immediately, to be paid in quarterly amounts of $0.4575 per share. Rogers also authorized the repurchase of up to $500 million of stock.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing , Commodities

More from MT Newswires


MT Newswires

MT Newswires

Market News, Commodities
Follow on:

Find a Credit Card

Select a credit card product by:
Select an offer:
Data Provided by